Financial Performance - For the three months ended September 30, 2025, net income was $34.962 million, an increase from $32.590 million in the same period of 2024, representing a growth of 7.3%[80] - The company reported earnings per share (diluted) of $0.91 for the three months ended September 30, 2025, compared to $0.85 for the same period in 2024[80] - Average tangible shareholders' equity was $1.087 billion for the three months ended September 30, 2025, compared to $977.999 million in the same period of 2024[77] - Return on average tangible shareholders' equity (non-GAAP) was 12.81% for the three months ended September 30, 2025, down from 13.35% in the same period of 2024[77] - Total assets increased to $9,717.7 million as of September 30, 2025, compared to $9,573.4 million as of September 30, 2024[1] - Total assets of the company reached $9.800 billion as of September 30, 2025, compared to $9.620 billion in the same period in 2024[90] Income and Expenses - Net interest income increased by $4.8 million, or 5.64%, for the three months ended September 30, 2025, compared to the same period in 2024[81] - Noninterest income increased by $1.9 million for the three months ended September 30, 2025, primarily due to no security losses in 2025 versus $2.2 million in losses in 2024[83] - Noninterest expense rose by $1.0 million, or 1.83%, for the three months ended September 30, 2025, with salaries and employee benefits increasing by $0.9 million due to merit increases and higher medical costs[84] - The effective tax rate decreased to 20.2% for the three months ended September 30, 2025, from 21.4% in the same period in 2024, attributed to increased low-income housing tax credits[85] Interest Income and Margin - The net interest margin (NIM) on a fully taxable equivalent (FTE) basis increased to 3.93% for the three months ended September 30, 2025, up from 3.82% in the same period of 2024[81] - Net interest income for the three months ended September 30, 2025, was $89.843 million, compared to $85.148 million for the same period in 2024, reflecting a net interest margin of 3.93% versus 3.82%[90] - Total interest and dividend income for the three months ended September 30, 2025, was $131.623 million, slightly up from $131.474 million in the same period of 2024[76] Loans and Credit Losses - The provision for credit losses increased to $2.8 million for the three months ended September 30, 2025, compared to a negative $0.4 million in the same period of 2024[82] - Net loan charge-offs were $2.4 million and $3.5 million for the three and nine months ended September 30, 2025, compared to $2.1 million and $8.3 million for the same periods in 2024[98] - Total portfolio loans increased by $238.0 million to $8.0 billion at September 30, 2025, with the commercial loan portfolio increasing by $158.8 million and the consumer loan portfolio increasing by $79.3 million[103] - The allowance for credit losses (ACL) decreased to $98.2 million, or 1.23% of total portfolio loans, down from $101.5 million, or 1.31%, at December 31, 2024[117] Deposits and Borrowings - Total deposits increased by $138.8 million to $7.9 billion at September 30, 2025, with customer deposits increasing by $163.6 million to $7.7 billion[105] - Average interest-bearing deposits increased to $5.779 billion for the three months ended September 30, 2025, with an average rate of 2.74%, compared to $5.555 billion and 3.04% in 2024[90] - Total borrowings decreased to $235.3 million at September 30, 2025, down from $250.3 million at December 31, 2024[123] Risk Management and Capital - The company implemented various ALCO strategies to manage interest rate and liquidity risks, aiming to maintain an acceptable level of net interest income[88] - Capital ratios for S&T Bancorp, Inc. exceeded well-capitalized regulatory guidelines, with total capital to risk-weighted assets at 16.63% as of September 30, 2025, compared to 16.49% at December 31, 2024[132] - The company continuously monitors interest rate risk through ALCO, which conducts rate shock analyses, EVE analyses, and stress tests[135] Strategic Priorities - The strategic priorities for 2025 and beyond include growing the deposit franchise and enhancing core profitability[79] - The company has filed a shelf registration statement allowing for the issuance of various securities for general corporate purposes, including possible acquisitions and stock repurchases[132]

Accessibility StatementSkip Navigation INDIANA, Pa., Oct. 30, 2025 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced today that Stephanie N. Doliveira will join its board of directors. She has also been appointed as a director of S&T Bank. With more than 25 years of experience in leading the planning and delivery of people-centric initiatives, including oversight of enterprise risk, legal and government affairs at Sheetz, Inc., Doliveira brings a wealth of s ...

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Financial Data and Key Metrics Changes - The company reported EPS of $0.91 and net income of $35 million for Q3 2025, with ROE and ROA at 1.42%, up 10 basis points from Q2 [6] - PPNR increased to 1.89%, up 16 basis points, aided by NIM expansion to 3.93%, which rose by five basis points [6][8] - Tangible book value grew by more than 3% this quarter, indicating strong capital levels and flexibility for acquisitions and share buybacks [5][15] Business Line Data and Key Metrics Changes - Total loan balances grew by $47 million or 2.3% annually, primarily driven by commercial real estate (CRE) activities, which saw an increase of $133 million [9] - Consumer loan activity grew by $37 million or approximately 6% annualized, while commercial and industrial (C&I) balances declined by $46 million due to higher payoffs and seasonal reductions [10][11] - Non-interest-bearing deposits represented 28% of total deposits, contributing to net interest income and margin improvements [5][8] Market Data and Key Metrics Changes - The company experienced a slight increase in non-performing assets (NPAs) to 62 basis points of total loans, which remains within an acceptable range [11] - The allowance for credit losses decreased by one basis point, indicating a stable credit risk environment [11] Company Strategy and Development Direction - The company aims for organic growth to exceed $10 billion in the coming quarters, focusing on enhancing its deposit franchise and managing asset sensitivity [5][6] - Strategic initiatives have been implemented to position the company for long-term success, including a focus on improving productivity and leveraging technology [4][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current strong performance and future growth, despite some uncertainty in the market due to budget impasses [18][50] - The company anticipates mid-single-digit loan growth in Q4, supported by strong CRE activity and a focus on improving C&I growth [10][18] Other Important Information - The company has a share repurchase authorization in place for $50 million, indicating a commitment to returning value to shareholders [15] - Management highlighted the importance of maintaining a strong deposit mix and proactive pricing strategies in response to competitive pressures [28][53] Q&A Session Summary Question: Loan growth outlook and impact of paydowns - Management noted that paydowns were higher than expected, impacting overall loan growth, but CRE activity remains strong with expectations for better growth in Q4 [17] Question: Margin stability amid Fed cuts - Management believes they are well-positioned to handle potential rate cuts due to their funding mix and ability to adjust deposit rates [19] Question: M&A activity and geographic preferences - Conversations regarding M&A remain active, with interest in expanding into faster-growing areas beyond current markets [22][66] Question: Competition and deposit betas - Increased competitive pressure was noted following recent rate cuts, particularly on CDs, but management expects to stabilize margins through effective pricing strategies [27][28] Question: Credit quality and specific exposures - Management reassured that credit quality remains stable, with no significant concerns in specific asset classes or geographies [49][65]

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Earnings and Profitability - The company reported earnings per share (EPS) of $0.91 and net income of $35.0 million[9] - Return on Assets (ROA) was 1.42% and Return on Equity (ROE) was 9.48%[9] - Return on Tangible Equity (ROTE) reached 12.81% and Pre-Provision Net Revenue (PPNR) was 1.89%[9] Balance Sheet - Loan growth was $46.6 million, representing an annualized growth rate of 2.33%[9] - Deposit growth was $1.0 million, with an annualized growth rate of 0.05%[9] - Total deposits were $7.922 billion in 3Q25, compared to $7.921 billion in 2Q25[16] - Demand Deposit Accounts (DDA) represent 28% of total deposits[18] Asset Quality - Allowance for Credit Losses (ACL) was 1.23%[9] - Net loan charge-offs were $2.4 million, or 0.12% of total loans[9, 27] - Nonperforming Assets (NPAs) were 0.62% of total loans plus OREO[9, 27] Net Interest Income - Net interest income grew by $2.6 million, or 3.00%, compared to 2Q25[11, 34] - Net Interest Margin (NIM) (FTE) expanded by 5 basis points to 3.93%[11, 34] Non-interest Items - Noninterest income was $13.8 million, a $0.3 million increase from 2Q25[36] - Noninterest expense was $56.4 million, a $1.7 million decrease from 2Q25[41] Capital - Tangible Common Equity to Tangible Assets (TCE / TA) ratio was 11.65%[46]

Core Insights - S&T Bancorp reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.85 per share, and showing an increase from $0.85 per share a year ago, resulting in an earnings surprise of +7.06% [1] - The company achieved revenues of $103 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.80% and up from $96.35 million year-over-year [2] Earnings Performance - Over the last four quarters, S&T Bancorp has consistently surpassed consensus EPS estimates, achieving this four times [2] - The company had a previous quarter earnings expectation of $0.80 per share but reported $0.83, delivering a surprise of +3.75% [1] Stock Performance and Outlook - S&T Bancorp shares have declined approximately 6.6% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters [4] Estimate Revisions and Rankings - The estimate revisions trend for S&T Bancorp was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.85 on revenues of $103.47 million, and for the current fiscal year, it is $3.39 on revenues of $401.71 million [7] Industry Context - The Zacks Industry Rank for Banks - Northeast places it in the top 24% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]

Financial Performance - Net income for Q3 2025 was $35.0 million, or $0.91 per diluted share, up from $31.9 million, or $0.83 per diluted share in Q2 2025[1] - Net income for Q3 2025 was $34,962,000, up from $32,590,000 in Q3 2024, resulting in diluted earnings per share of $0.91[19] - Net income (annualized) for the nine months ended September 30, 2025, was $134,051, compared to $131,172 for the same period in 2024[29] Interest Income and Margin - Net interest income increased by $2.6 million, or 3.00%, to $89.2 million in Q3 2025 compared to $86.6 million in Q2 2025[3] - Total interest and dividend income for Q3 2025 was $131,623,000, a slight decrease from $131,474,000 in Q3 2024[19] - Net interest income after provision for credit losses increased to $86,449,000 in Q3 2025 from $84,931,000 in Q3 2024[19] - Net interest margin (FTE) (non-GAAP) for Q3 2025 was 3.93%, compared to 3.88% in Q2 2025 and 3.82% in Q3 2024[33] Asset and Loan Growth - Average interest-earning assets rose by $88.2 million to $9.1 billion in Q3 2025 from $9.0 billion in Q2 2025[3] - Total portfolio loans increased by $46.6 million, or 2.33% annualized, compared to June 30, 2025[4] - Total assets reached $9,817,483,000 as of Q3 2025, an increase from $9,583,947,000 in Q3 2024[21] - Total loans reached $7,946,571 thousand in Q3 2025, maintaining a net interest margin of 6.04%, consistent with Q2 2025[22] Nonperforming Assets and Credit Losses - Nonperforming assets (NPAs) rose to $49.6 million, or 0.62% of total loans plus OREO, from $21.3 million, or 0.27%, at June 30, 2025[5] - Nonaccrual loans amounted to $49,618 thousand in Q3 2025, representing 0.62% of total loans, an increase from 0.27% in Q2 2025[24] - Net loan charge-offs for Q3 2025 were $2,414 thousand, up from $1,158 thousand in Q2 2025, indicating a rise in credit losses[24] - The allowance for credit losses (ACL) was $98.2 million, or 1.23% of total portfolio loans, at September 30, 2025[5] Deposits and Equity - Total deposits increased by $1.0 million, or 0.05% annualized, compared to June 30, 2025[7] - Total deposits increased to $7,921,943,000 in Q3 2025 from $7,654,841,000 in Q3 2024, reflecting a strong deposit base[21] - The company reported a total equity of $1,463,098 thousand in Q3 2025, reflecting a stable capital position[22] Efficiency and Return Ratios - Return on average assets (ROA) improved to 1.42% in Q3 2025 from 1.32% in Q2 2025[4] - The efficiency ratio (FTE) improved to 54.41% in Q3 2025 from 55.88% in Q3 2024, indicating better cost management[19] - Return on average tangible shareholders' equity (non-GAAP) for Q3 2025 was 12.81%, compared to 12.12% in Q2 2025 and 13.35% in Q3 2024[27] Dividends and Shareholder Value - The company declared dividends of $0.34 per share in Q3 2025, compared to $0.33 per share in Q3 2024, with a dividend yield of 3.62%[19] - Tangible book value increased to $28.69 in Q3 2025, up from $27.90 in Q2 2025 and $26.13 in Q3 2024[27]

Core Viewpoint - S&T Bancorp, Inc. reported a net income of $35.0 million for Q3 2025, reflecting a growth from $31.9 million in Q2 2025 and $32.6 million in Q3 2024, driven by improved revenue and net interest margin expansion [1][3]. Financial Performance - Net interest income increased by $2.6 million, or 3.00%, to $89.2 million in Q3 2025 compared to $86.6 million in Q2 2025 [3]. - Average interest-earning assets rose by $88.2 million to $9.1 billion in Q3 2025 from $9.0 billion in Q2 2025 [3]. - The net interest margin (NIM) expanded by 5 basis points to 3.93% in Q3 2025 from 3.88% in the previous quarter [3][6]. Asset Quality - The allowance for credit losses (ACL) was $98.2 million, or 1.23% of total portfolio loans, slightly down from $98.6 million, or 1.24%, at the end of Q2 2025 [4]. - The provision for credit losses increased to $2.8 million in Q3 2025 from $2.0 million in Q2 2025 [4]. - Nonperforming assets (NPAs) rose to $49.6 million, or 0.62% of total loans plus other real estate owned (OREO), compared to $21.3 million, or 0.27%, at the end of Q2 2025 [4]. Noninterest Income and Expense - Noninterest income remained stable at $13.8 million in Q3 2025, compared to $13.5 million in Q2 2025 [5]. - Total noninterest expense decreased by $1.7 million to $56.4 million in Q3 2025 from $58.1 million in Q2 2025, primarily due to lower salaries and employee benefits [5]. Financial Condition - Total assets were reported at $9.8 billion as of September 30, 2025, unchanged from June 30, 2025 [6]. - Total portfolio loans increased by $46.6 million, or 2.33% annualized, compared to June 30, 2025 [6]. - Total deposits increased by $1.0 million, or 0.05% annualized, compared to June 30, 2025 [7]. Profitability Metrics - Return on average assets (ROA) improved to 1.42% in Q3 2025 from 1.32% in Q2 2025 [6]. - Return on average equity (ROE) increased to 9.48% from 8.91% in the previous quarter [6]. - Return on average tangible equity (ROTE) rose to 12.81% from 12.12% in Q2 2025 [6].

Core Insights - S&T Bank's president, David Antolik, has been awarded the 2025 C-Suite Award by the Pittsburgh Business Times, recognizing his leadership and strategic vision in driving the bank's success [1][2]. Company Overview - S&T Bancorp, Inc. is a bank holding company with assets totaling $9.8 billion, headquartered in Indiana, Pennsylvania, and trades on NASDAQ under the symbol STBA [3]. Leadership and Achievements - David Antolik has over 35 years of experience in financial services and has been with S&T Bank since its inception, taking on the role of president in January 2019. He has held various senior executive positions, focusing on growth strategies in commercial and consumer banking as well as wealth management [2][3]. - Antolik expressed gratitude for the recognition, attributing it to the hard work and dedication of the entire S&T Bank team, highlighting the bank's people-forward approach [3]. Community Commitment - Chris McComish, CEO of S&T Bancorp, praised Antolik's leadership and commitment to community service, emphasizing his role in inspiring colleagues and driving growth and transformation within the organization [3].